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Tata Steel: Pension cut plan would be 'unique' to company

Business Secretary Sajid Javid has confirmed the Government is set to launch a consultation on changes to pensions law as part of efforts to save Tata Steel despite being "very wary of setting a precedent".

The changes would leave steelworkers worse off in retirement - but they would still fare better than many employees in other pension schemes.

Former Liberal Democrat Pensions Minister Steve Webb warned the government is "going down a very dangerous path" in seeking to change the pension laws but Mr Javid said the plan for Tata would be 'unique' to the company.

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'No-one wants to touch pension scheme with barge pole'

Joel Hills says no buyer wants to touch Tata Steel's UK pension liabilities "with a barge pole".

The government is considering changes to pension laws to reduce the burden and attract investment.

Our business editor says this could have wide-reaching implications beyond the steel sector.

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